Macerich Increases The Quarterly Dividend On Its Common Shares By 6.9%
SANTA MONICA, Calif., Oct. 24, 2013 /PRNewswire/ -- The Board of Directors of The Macerich Company (NYSE: MAC) declared a quarterly cash dividend of $.62 per share of common stock. This is a 6.9% increase over the previous quarterly dividend of $.58 per share. The dividend is payable on December 6, 2013 to stockholders of record at the close of business on November 12, 2013. On an annualized basis this is a 4.2% dividend yield based on yesterday's closing price.
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 59 million square feet of real estate consisting primarily of interests in 57 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in California, Arizona, Chicago and the Greater New York Metro area. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.
SOURCE Macerich Company